The High Price of Low Ethics: How Corruption Imperils American Entrepreneurship and Democracy

Articles

Abstract

Corporate corruption threatens democracy and endangers the advancement of entrepreneurship as one of the fundamental traits of economic life in the United States. In this article, Carl J. Schramm proposes zero tolerance for unethical business behavior. Compared with war or medicine, business ethics seem relatively simple. Honor contracts. Treat customers fairly. Be truthful about the condition of a commodity. Be transparent to investors. This is just to say, there is a high price to pay for low ethics.